Do Forex Trading Robots/EA's Work? 🤔
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- Опубликовано: 8 июл 2019
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Do forex robots work? Do expert advisors work? I'm referring to those automated programs you can plug-into MT4 or MT5. Something that chugs away and makes trades based on an algorithm that you've programmed. OK.
Do they work? But how do we define work? For me 'work' means that the system will work profitably thru specific market conditions (and know when to shut off). Is this something that has a long life?
Do Most Forex EA's and Robots Really Work?
I'd say no because there is always a system that works for a period of time and eventually it stops working or becomes less effective. Robots might look great on the face of it but you have to keep in mind that market conditions change.
If you're going to trade the algo, when are you going to stop? In reality trading with a forex robot is identical to trading the market. Algos can work for extended periods of time but they'll unlikely to continue to work in the long run.
#forex_trading #forex_robots #expert_advisors
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Guys I have built my own Forex Robots and have many different versions for muliti time frames, I have backtested them to the moon and back, so I know how little they can losse before they make anything and I never came up with a version which you could leave on 100%, that is very difficult to do.
Robots execute trade with no emotions. No greed no fear, unlike foolish me.
3rd parties robots are NONSENSE. Then again.......automating your OWN strategy makes a massive difference. I trade indices, Forex, and metals. My strategy became too complex to execute manually, and I noticed missing many trades while sleeping. Built (8) algos; each for 1 instrument, 1 broker, 1 time frame, 1 pair of settings, and let them execute my trades. They do NOTHING else than automatically executing my (previously manual) trading strategy. They scale in, move stop losses, scale out, etc.My personal view is" if you cannot 100% automate your strategy; then you don't HAVE a strategy. Only the illusion"
The only EA that works is the EA that you make it yourself using your own principles and approach that has been proven to be profitable.
I developed my own EA after 3 years of trading with decent profitability and I hate the fact that I'm still somewhat emotional when it comes to trading so I decided to code my own EA and it's takes a grueling 2 months for me last year trying to code it from scratch in MQL4 since I have little understanding when it comes to programming.
I finally did it but I have to tune it over and over again for the next months, and I proud to say that my EA finally beaten me in December in terms of profitabilty.
I would never share the code lol.
The Robots that work are kept a secret they are a weapon...if a Robot makes money then WHY THE HELL SELL IT?!?!?!
I'm sorry, but what you are saying is that its the same as trading manually, and that you will wipe your account. So you then mean that even manual trading is useless as you are gonna have the same decisions to get out or not. I'm building robots and I totally see where you're going with this but for me, a robot is something that helps me stick to my trading rules, taking out the emotions that manual trading has. We also know that institutions is using robots. We also know that more than 50% of all trades is made by robots so it's a strange take saying they cant work. My strategy is to have multiple robots, i.e. 5-10 of them, trading different timeframes and currencies. And to always withdraw money instead of increasing the volume traded as the account grows.
why don't you program your "robot trader" to STOP trading whenever conditions that exist changes suddenly?! that way you prevent lose.
then you can run another robot that is designed for the new market trend.
or edit your current robot to keep phase with the changes of the market, and so you can continue automated profit.
diversification is your friend even in automation. The two primary trading strategy types are mean reversion and trend following. Run a robot/ea for each and it will round out your equity curves and drawdowns assuming they are set right and work well
Or you can just program your own EA. If you're a rubbish trader the robot can back test your strategy in 2min and saves you money before you commit to that strategy. I trust my robots better than myself because they don't get reactive like I sometimes do
because people haven't heard of winning algos, doesn't mean there are none they do exist and are hidden behind closed doors. why would any successful programmer sell a winning algo, trading is the most systematic job ever if anything becomes good if we replace it with a robot is trading, humain emotion blow more accounts then a really smart algo (not EA scams)
The only people hating on EA are those that can't code them, but wish they could. This sounds like the 'back in my day' speech our parents give us when we try explain programming to them and then tell us about how they used to make paper planes and chase them around the garden.
I tried for years to create EA's that trade on their own - I back tested EA's with thousands of trades each, over years of data, and the best I achieved was break even. They would be profitable for months at a time, and then crash, pick up again, and then crash again. I never figured out how to get the EA to change strategy in the correct circumstances. E.g. I'm in a range market so the EA is a range robot - it keeps trading until the market has established a trend - by then it's too late. Change EA to trend bot and then the market flattens out and I'm still using a trend bot. I prefer day trading, so I now use the same EA's as alerts so I don't have to stare at the screen all day. I do my thing; MT4 pings my phone ! But I make the trading decision.
We ran a bot successfully for a few months. Kind of a semi bot though. Every day we tweaked the system to adapt to market condition. Every morning I woke up to profits. Till it didn't work anymore. Every morning my account showed a lower balance. At plus minus zero I shut it off.
Why didn't it work anymore? "Fooled by Randomness" maybe... Great learning experience.
Hi, How do you get mt4 to send you alerts on your phone?
From personal experience : my EAs stop working after approx 14 months on average. I found that is best to use a portfolio of EAs with different logic. They must be replaced with a new EAs pretty much all the time. Discretionary trading + EA is my preferred method as well. Can stick with one instrument and one strategy and be profitable. No need to over-complicate.
A EA with a flexible system does it's job. E.g you will use whatever you use to identify a trending and ranging markets. And you can use a ADX for that. The trick here I think is to modify an EA according to your "Manual Trading" rules, approachs etc🤷🏾♂️🤷🏾♂️
I am sorry. I think your reason is not convincing. The sample u gave is contradictive. The robot is working exactly what your own trading strategy told it to do. There is not any difference between doing that manually or automatically. If your strategy does not work at a specific moment. No matter your r trading manually or trading automatically, u will lose money. Or you can say, u will not know when ur strategy will lose efficacy even u r trading manually.
That's why you set a 2% Appropriate lot size and SL , when it goes against you. Also trade Tuesdays Wednesdays and Thursdays
it's not because the conditions change, but it is because the bot uses martingale strategy...
Robots are weapon of the market and shouldn't be sold if profitable
This question is not appropriate IMO. It's not specific enough.
The right questions would be:
How much do we need to pay to get one that works?
Are those who really work available to large public?
If yes, how can we find one among so many available?
Most of the transactions on the market are now supposed to be done by HFT robots in large firms and edge funds. Robots certainly work. But at what developpement cost?
Simple robots based on only one strategy probably don't work. But if you make a team with 5 really good traders + 3 goods programmers working during 6 months, I can't beleive that such a robot cannot be done. The problem is that it will never be shared or might be sold only at a very high price.
I have mixed feelings on this. Doing very well trading om my own, but do sometimes feel a bot may save some time.
Thank you! this zero sum game needs discretionary eye to help it win.
I agree
Don't bug one, learn how to program and create one yourself, its worth it in the end, believe me
the best money ive made on my own is thru 10Ks and announcements and understanding the fields I love and knowing accounting through school and work. there are no shortcuts.
Robot can't keep up with Stop hunt💣 I prefer pending orders📈
🌱Your eyes are the best indicators and they're your best robot💰
Which signals provider do you recommend?
@3.19 big what lols, great video cheers.
all you need is an ea that gets out of losses early and stays in winning ones for a long period of time 🤷🏻♂️🤷🏻♂️
Thank you so much bro...your videos are really helpful in attaining forex education.
sir I have a question.is money in fires real. say you made a billion dollars in forex. and the money is credited into your bank account is your country going to allow you access to spend that money since a country is looking for forex reserves? I have experience where I traded automated and made over 700 billion pounds and the money got into my account and left again any thoughts?I actually had a short meeting with the bank ceo back then.
True no strategy works forever, but it's not so hard to Ai to self generate strategies...
The chart on the whiteboard describes both robots and retail traders balance chart. Either it's a robot or a human.
My opinion about ea is...ea do his work very well but we have to be carefull with setting..and when u set with high setting we also need to be carefull with high impact news that'll effect the currency...and we should standby more capital to covered the floating or off ea and cut it loss...
Robots most definitely do work. However you do need to have a very good understanding of the strategy of the robot. Yo also need to understand how to optimise it. Granted there are many out there, some good, some not so good. I'm working on one right now which has given me some great results in back texting over a 4 month period with a 95% win rate and 6% draw down.
an EA needs always updates
Anybody had decent, sustainable success with a bot? If so, which one?
Hello sir
forex robot back testing vs demo vs live it comes same result??
Please answer i really confusing about the robot in market available
Please help me to find better results find please
Thanks
Always backtest any EA extensively. Make sure to backtest on MT5 with 'real ticks' and 'ping' enabled to get 100% accurate market movement. MT4 backtesting is shit ....and will give you a false sense of a strategy working. Lastly, backtest on the server that you plan to trade on.
3:21 "bid dogggg"
Where can I build forex bots ?
Surely it's just the same as trading any trend or following any strategy. If it starts losing, then stop go back to testing until it trends back up again, then run on a live account once more. But yes there's always a risk. Monitor behaviour at times of volatility.
I hate to break your RUclips ego, but unless you're an Mql4/5 coder, you're wrong. If you don't know how to code a Robot like me, you can't speak on this subject. My Robot's consistent and profitable under any market condition; trending, consolidating, support and resistance zones, etc. And it returns 80%-100% ROI per year, and I will gladly prove this to you if you request.
Horses for courses. That is, robots are designed for specific markets. For example if you have trend following robot only put it on a trending chart and only trade with the trend. If the chart isn't trending don't put the robot on the chart.
Certainly, if you're not interested to do the work and learn how to code then robots are not for you. As for changing market conditions, there are two ways to handle that: 1. reoptimization, 2. robot portfolios which lower the risk. Manual trading that you prefer is much more risky as it depends on psychology.
I will certainly agree with this fellow!
They work but you have to make it yourself. No one gonna share a profitable one and that's why people think robots don't work.
At 2 mins it would just hit the stop loss??
That's a good point. I am going to use what you are advising.
Excellent, thanks for the info
Forex trading helped in 2019 and I wish also to make more profits in 2020
It has been a source of financial aid to many people, the rich get richer while the poor become rich
Do you really recommend using an EA (Robot)
OK let me leave this here, if you can program a bot that works on buy stop and sell stop then you have nothing to worry about.
if it's a black box then it probably won't be that helpful. but if you can change it, then i don't think it's that different to defining a strategy and sticking to it. if a robot with perfect execution can't make a strategy work forever then i don't think a human can either. a human trader also has to decide when a strategy doesn't work anymore. i think the potential value of a robot is in only having to engage when you need to change your strategy. having said all that, it's really hard to create a successful strategy. much harder than i expected when i started, years ago making robots
Is there any average on how long a system can work?
They work best in ranges not trends.
3:20 BIG what ?
One year ago I watched a one month robot trading by Rob Booker and after one month he end up $8000,- loss. I think he still has it on his channel.
Are you saying he was $8000 in the negative?.. or $8000 in profit?
Terron W he lost $8000,- I can’t remember the details, but it’s still on his channel I guess.
Good Video
Give somebody a fish and
Learn how to catch the fish and
Before starting your adventure with FX and to limit losses, you should try the free forex robot, good luck.
it would be better to use em only as an indicator so to speak, to go along with your analysis and not just lazily take signals from em
Where are all the comments ? Hello, anybody here ?
3:20 big what !😂😂😂😂😂😂😂😂
I have One working for 15years now and not selling It 😉
+ Keyword Is : money managment
How is that challenging?Isn't that really boring?
I`m sorry, you don`t know any thing about Expert Advisors. Complete your speech as follows:
Work with a robot you just designed yourself. Do not trust any of the robots on the market.
My friend, you really dont know everything about bot trading...You are only partially right..However some things you say are VERY true..
Eh ive never seen a bot that doesnt eventually go bankrupt. They dont work and after 5 years of trading i dont really think trading works either. Some people do well but its hard to believe because ive never actually met a legit profitable trader.
Wow thnx
Trading robots/ EAs are somekind of trading paradox. These trading tools could crash the stock market. If you put a big number of them online, the volume of trades opened and closed will give to much volatility to the markets and so. EAs will be profitable only when AI will be a thing. Good luck!
Thank you for not bashing on us lol
Robots are like gods, I will never use them. I think they are meant for lazy slackers.
Most robots are just scams, very fast and many positions. which have excellent results only in the backtest with fixed and low spread and without commission. But in the real account, they always lose money. Some robots also use hedging or martingale, which can be profitable in the short term, but lose all capital in general. In my opinion, robots can be used more for testing strategies.
I love my EA ☺
Would you share how it did ?
I am developing one
hi who is willing to share they robot with me as a trail run
Robots do work.
I share your opinion. Tried to create tons of EA and test another ton but at the end the lack of adaptability of an EA is their doom. Nothing beats your brain yet in terms of reading the market and adapt to the ever changing environments.
If your commenting your not trading your looking for help... he is absolutly spot on use the ea robot to help you go in when trading manually will watching the sucker go algo fast watch it stop itself out and keep going watch the graph line or pam or any other indicator to see the movement trend including 200 pip man river charts it will show over and undersold bulls and bears and that is a good indicator use .01 to .03 to start that way your not looking at your son saying to him you know there’s great pride and honor in lifting garbage cans for a living cause i just lost your college fund lol..anyway be modest train your eyes don’t be greedy not yet then dump 30k into your brokerage acct and trade 8 lots like 200 pip look at his review on this site he makes 20-30k a day no joke of course he’s in dubai or india so his international broker allows ea trading in the us you can’t because of the clowns dodd / frank law forbidding it which is kinda good it prevents micro traders from cornering the market .
I always think that if something sounds to good to be true then it usualy is. Robots/EA sounds to good to be true so i dont believe in them at all. Nothing will beat trading done from a person.
Have to respectfully disagree. The typical gradual climb and big dip at the end on the chart is not due to market conditions changing, it's due to huge unsustainable stop losses that wipe out accounts in one go.
If your EA isn't built for all conditions but trades on all of them, then you've built a crappy EA. If your EA is set to only trade under certain conditions but still fails, then the algorithm needs to be tweaked.
Most EAs fail because they try to achieve too much. Simplify and narrow it down to trade in one or two very specific conditions with high precision, and you will see your EA start becoming profitable.
An EA inevitably fails when used as a shotgun. No EAs can out perform the eyes and experience of a seasoned trader when used in this manner. But it will outperform all manual trading when used as a sniper. Precise, responsive, and operates 24/5.
Tell to Blair Hull and J.Doyne Farmer that trading robots don't make money xD
Do you like economics and learning new things? Why? This is laziest approach I swear without anything heart or interest in knowledge no math just this why?
Your out to lunch. We make money daily, weekly and yearly on a great EA
Do you use a robot too?
:-)
very wrong
nice video, I also use automatic robot trading with great success on multistrategy-trading comp